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Prepare the adjusting aad closing entries for 2021 based on the badzeted incente atatement and Casth bedget fram 6. Fixed assets have no nalrage value over a 10 year period. Use the closing entries from last week, and the ending balances 1 MASTER BUDGET PROJECT: BUDGETED INCOME STATEMENT AND BALANCE SHEET TEMPLATE ACCT 5362 | Accounting Principles Use the closing entries from last week, and the ending balances to fill out the budgeted income statement and balance sheet. Husky Co. Budgeted Income Statement For the Year Ended Dec 31, 2021 Sales COGS Gross Profit SG\&A Expenses Operating Profit 15 Interest Expense 16. Taxable lncome 17 lncome Tax 19 $206,41388,462 \begin{tabular}{|l|l|l} \hline 38 & & LLABIIIIES \\ \hline 40 & Accounts Payable \\ 41 & Loans Payable \\ 42 & Interest Payable \\ 43 & Income Tax Payable (Benefit) \\ 44 & CURRENT LLABIITIES \\ 45 & \\ 46 & Capital Stock \\ 47 & Additional Paid in Capital \\ 48 & Retained Eamings \\ 49 & STOCKHOLDERS' EQUITY \\ \hline & TOTAI LIABILITIES AND \\ 50 & STOCKHOLDERS' EQUITY \\ 51 & \\ 52 & \\ 53 & \end{tabular} Prepare the adjusting aad closing entries for 2021 based on the badzeted incente atatement and Casth bedget fram 6. Fixed assets have no nalrage value over a 10 year period. Use the closing entries from last week, and the ending balances 1 MASTER BUDGET PROJECT: BUDGETED INCOME STATEMENT AND BALANCE SHEET TEMPLATE ACCT 5362 | Accounting Principles Use the closing entries from last week, and the ending balances to fill out the budgeted income statement and balance sheet. Husky Co. Budgeted Income Statement For the Year Ended Dec 31, 2021 Sales COGS Gross Profit SG\&A Expenses Operating Profit 15 Interest Expense 16. Taxable lncome 17 lncome Tax 19 $206,41388,462 \begin{tabular}{|l|l|l} \hline 38 & & LLABIIIIES \\ \hline 40 & Accounts Payable \\ 41 & Loans Payable \\ 42 & Interest Payable \\ 43 & Income Tax Payable (Benefit) \\ 44 & CURRENT LLABIITIES \\ 45 & \\ 46 & Capital Stock \\ 47 & Additional Paid in Capital \\ 48 & Retained Eamings \\ 49 & STOCKHOLDERS' EQUITY \\ \hline & TOTAI LIABILITIES AND \\ 50 & STOCKHOLDERS' EQUITY \\ 51 & \\ 52 & \\ 53 & \end{tabular}